TPG gets contrarian on distressedSubscribe
So in the private equity world everyone is bolstering up their distressed investing units EXCEPT TPG.
TPG Capital decided to reduce the size of its $6 billion distressed fund targeting financial institutions by 25%. TPG told investors it was scaling back its distressed financial fund because it was concerned the government's expanded role in the financial sector meant fewer opportunities for private sector firms. TPG says "we are competing with the government and their funding is cheaper"